Top positive review
13 people found this helpful
A great read
on July 19, 2012
I stumbled across this book while browsing Amazon. I chose this book over other hedge fund / high finance books because I have also formed a hedge fund of the same strategy (market neutral) as Kroijer's Holte Capital. I am also attempting to go at it solo, and Kroijer started Holte with just himself, a CFO, and maybe another analyst. I was also very familiar with one of Kroijer's previous employers. I was hoping to compare my experiences with his and also perhaps glean some insights I had not considered.
To the former point, I thought Kroijer presented an exceptionally accurate portrayal of the formation (and ensuing frustration) of a fund. I read some passages about raising capital aloud to my wife, who then said, "That's what YOU"VE said many times!" It was almost therapeutic to know someone as ultimately successful as Kroijer also struggled at the outset.
To the latter point, I was always troubled about what would happen if and when I raised a relatively small amount of capital but took to amortizing my fund costs over the 60 months as the fund docs dictate. Kroijer had this exact experience and explained how he addressed it, and it was something I hadn't really considered but now have it in the back of my mind if and when the time comes.
I would recommend this book to anyone who wants an accurate depiction of the highs and lows of the full life cycle of a hedge fund. It is not the highly glamorized Hollywood-esque exploits of "The Wolf of Wall Street (another good book, so I am not panning that in anyway), but I mention this as a plus for "Money Mavericks." The media often puts its own agenda on the table when "reporting" about hedge funds, and as a result the public often has the wrong idea. This book sets the record straight more than any media outlet ever will.